EOG makes Barnett shale oil discovery

By OGJ editors
HOUSTON, Mar. 3 -- EOG Resources Inc. announced an oil discovery in the Barnett shale region near Fort Worth, Tex., where EOG has drilled for natural gas since 2004.

During a Feb. 28 conference call, EOG executives told analysts they drilled and tested eight horizontal crude oil wells. EOG plans to develop its Barnett shale oil play north of gas-prolific Johnson County.

EOG is still delineating its oil discovery, and executives estimate possible crude oil reserve potential at 225-460 million boe net on its 250,000 net acres in Montague, Clay, and Archer counties.

Oil production from EOG's holdings in the Barnett shale is forecast for 2009.

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